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(N) the act or process of developing an opinion of value; an opinion of value.
(Adj) of or pertaining to appraising and related functions such as appraisal practice or appraisal services. |
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| valuation services performed by individual acting as an apprasier; including but not limited to appraisal review. |
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| the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review assignment. |
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| one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. |
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| other appraisers who have expertise and competency in a similar type of assignment. |
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| 1) an agreement between an appraiser and a client to provide a valuation service; 2) the valuation service tha is provided as a consequence of such an agreement. |
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| an appraiser's opinions or conclusions developed specific to an assignment. |
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| that which is taken to be true. |
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| a preference or inclination that precludes an appraiser's impartiality, independena preference or inclination that precludes an appraiser's impartiality, independence, or objectivity in an assignment. |
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| an entity pursuing an economic activity. |
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| the interests, benefits, and rights inherent in the ownership of a business enterprise or a part thereof in any form. |
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| the party or parties who engage by employment or contract, an appraiser and that is not available. |
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| information that is either: 1) identified by the client as confidential when providing it to an appraiser and that is not available from any other source; or 2) classified as confidential or private by applicable law or regulation. |
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| the amount required to create, produce, or obtain a property. |
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| estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. |
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| an assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could be false could after the apprasier's opinions or conclusions. |
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| a study of the cost-benefit relationship of an economic endeavor. |
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| a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis. |
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Intangible property
(Intangible assets) |
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| nonphysical assets, including but not limited to franchies, trademarks, patents, copyrights, goodwill, equities, securities, and contracts as distinguished from physical assets such as facilities and equipment. |
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| the use or uses of an appraiser's reported appraisal or appraisal review assignment opinions and conclusions, as identified by the appraiser based on communication with the client at the time of the assignment. |
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| the client and any other party as identified, by name or type, as users of the appraisal or appraisal review report by the appraiser on the basis of communication with the client at the time of the assignment. |
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| an assignment condition established by applicable law or regulation, which precludes an appraiser from complying with a part of USPAP. |
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| a type of value stated as an opinion that presumes the transfer of a property, as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. |
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| the process of valuing a universe of properties as of a given date using standard methodology, employing common data, and allowing for statistical testing. |
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| a mathematical expression of how supply aand demand factors interact in a market. |
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| identifiable tangible objects that are considered by the general public as being "personal". |
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| the amount asked, offered, or paid for a property. |
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| an identified parcel or tract of land, including improvements. |
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| the interests, benefits, and rights inherent in the ownership of real estate. |
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| any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client upon completion of an assignment. |
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| the type and extent of research and analyses in an appraisal or appraisal review assignment. |
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| personalized evidence indicating authentication of the work performed by the appraiser and the acceptance of the responsibility for content, analyses, and the conclusions in the report. |
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| services pertaining to aspects of property value. |
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| the monetary relationship between properties and those who buy, sell, or use those properties. |
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| documentation necessary to support an appraiser's analyses, opinions, and conclusions. |
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